Unusual Machines Target of Unusually Large Options Trading (NYSEAMERICAN:UMAC)

Unusual Machines, Inc. (NYSEAMERICAN:UMAC - Get Free Report) saw unusually large options trading activity on Wednesday. Investors purchased 7,165 call options on the company. This represents an increase of approximately 710% compared to the average daily volume of 885 call options.

Wall Street Analysts Forecast Growth

Separately, Litchfield Hills Research assumed coverage on shares of Unusual Machines in a research note on Wednesday, February 19th. They set a "buy" rating and a $20.00 price objective on the stock.

Insiders Place Their Bets

In related news, CFO Brian Joseph Hoff sold 83,775 shares of the company's stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $5.70, for a total transaction of $477,517.50. Following the transaction, the chief financial officer now owns 359,225 shares of the company's stock, valued at approximately $2,047,582.50. This represents a 18.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 22.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in UMAC. Geode Capital Management LLC grew its position in Unusual Machines by 329.3% during the fourth quarter. Geode Capital Management LLC now owns 43,214 shares of the company's stock valued at $727,000 after purchasing an additional 33,148 shares in the last quarter. Jane Street Group LLC purchased a new position in Unusual Machines during the fourth quarter valued at approximately $298,000. Covestor Ltd purchased a new position in Unusual Machines during the first quarter valued at approximately $85,000. Cambridge Investment Research Advisors Inc. purchased a new position in Unusual Machines during the first quarter valued at approximately $80,000. Finally, OMERS ADMINISTRATION Corp purchased a new position in Unusual Machines during the fourth quarter valued at approximately $209,000.

Unusual Machines Price Performance

Unusual Machines stock traded down $0.81 during trading hours on Thursday, hitting $6.52. 5,459,406 shares of the company traded hands, compared to its average volume of 1,714,000. The company has a quick ratio of 0.95, a current ratio of 2.24 and a debt-to-equity ratio of 0.16. The firm's 50-day simple moving average is $5.51 and its two-hundred day simple moving average is $7.18. Unusual Machines has a 1-year low of $1.13 and a 1-year high of $23.62.

Unusual Machines Company Profile

Unusual Machines, Inc designs, manufactures, and sells ultra-low latency video goggles for drone pilots. It operates a drone-focused e-commerce marketplace. The company serves drone pilots, hobbyists, and recreational services. The company was formerly known as AerocarveUS Corporation and changed its name to Unusual Machines, Inc in July 2022.